As part of the deal, the founding shareholders are stepping back and will assume an advisory role while the current senior management team, led by CEO Ray Castelli, has reinvested and will continue to lead the company.
Last year, Weatherhaven engaged an M&A firm in the defence and aerospace industry to assist in identifying a financing partner.
“Fulcrum is excited to invest in Weatherhaven alongside current management and to play a role in maximizing the growth potential of this innovative shelter solution provider,” says Fulcrum Capital partner Michael Berkson. “We have been tracking Weatherhaven for the past five years and the timing of this investment is ideal as the potential global market opportunity for Weatherhaven’s innovative shelter solutions and mobile camp designs has never been greater.”
Weatherhaven has experienced more than 400 per cent growth in the past six years.
“Our decision was influenced by Canada’s announcement of a new Defence Procurement Strategy (DPS) in February and we are confident that Weatherhaven can become an example of how to serve the long-term needs of our defence department while leveraging our innovative products and solutions into substantial global export growth,” added Castelli.
Fulcrum Capital Partners has offices in Vancouver and Toronto. It makes investments across a variety of industry sectors including manufacturing, services, consumer products, distribution, food and retail, and manages over $500m through two private equity funds and a portfolio of mezzanine investments.
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